US MIDDAY: copper surges

Copper surged to a three-week high on Friday, bucking negative demand implications from another batch of weak US data, as prices pushed higher in front of a long holiday weekend with the help of a weaker dollar and steady equities. In New York, the active July COMEX contract shot up 7.50 cents, or 1.8 percent, to settle at $4.1860 per lb.
COMEX copper regained its momentum above both the 20- and 200-day moving averages, a development that signalled more technical strength in the days ahead.